Emnex suffers 5.56pc decline

DUBAI — The domestic market witnessed a big decline yesterday as Emnex lost 5.56 per cent or 478.41 points to close at 8133.57 points. All the leading stock market indices suffered losses.

By A Staff Reporter

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Published: Mon 25 Jul 2005, 10:45 AM

Last updated: Thu 2 Apr 2015, 4:43 PM

The property sector declined 0.91 per cent as Emaar Properties and Union Property shares traded at lower levels. The Islamic sector lost 7.75 per cent as all Islamic Banks traded at lower levels.

The telecom sector declined 7.51 per cent as Etisalat shares traded Dh2.55 less, while the Insurance sector lost 0.13 per cent as Al Dhafra Insurance traded Dh5 less.

The financial services sector has also suffered losses, slipping 0.13 per cent as Abu Dhabi Commercial Bank and National Bank of Dubai shares traded at lower levels.

The total turnover of the UAE market across two bourses was almost half of the previous day trade value, standing at Dh945.4 million. Dubai Financial Market (DFM) traded 64.2 million shares valued at Dh832.69 million. The DFM Index DSI was down 57.37 points to 772.96 points.

The UAE market benchmark National Bank of Abu Dhabi (NBAD) General Index plunged by further 928.52 points or 6.23 per cent to close at 13,982.62 points.

All the subindices suffered losses, but the major loser was the service sector index, which dipped 1,707.34 points or 8.39 per cent to end the day at 18,649.27 points.

The banking sector subindex lost 583.66 points to close at 13,247.64 points, while the insurance sector index, dropping 15.81 points ended the day at 7,286.22 points.

The NBAD Emirates Stock Markets General Index shed 390 points or 6.26 per cent and closed at 5,843.16 points for the day.

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